North America Plastic Strap Market
Pages: 111
Plastic strap refers to a widely used packaging material. It is used for various purposes, including strapping and bundling. The plastic strap is less expensive as compared to the steel straps, which makes it more suitable for usage by the industries and customers. High strap tension, good impact resistance, low friction, and no rusk marks on products are some of the common attributes of the plastic strap. The minimum breaking strength is the vital characteristic of the plastic strap. The polypropylene and polyester strap are the most commonly used plastic straps. The choice of correct strapping is highly dependent on the implementation and equipment being used.
Strategic insights for the North America Plastic Strap provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,879.95 Million |
| Market Size by 2027 | US$ 573.78 Million |
| Global CAGR (2020 - 2027) | 16.2 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Plastic Strap refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America plastic strap market is expected to reach US$ 573.78 Million in 2027 from US$ 1,879.95 Million in 2019. The market is anticipated to grow at a CAGR of 16.2 % from 2020 to 2027. Factors driving the market growth include rising preference for lightweight and low-cost strapping types and growing demand in key markets such as US and Canada. However, environmental pollution and waste management is likely to have a negative impact on the market growth.
The ongoing COVID-19 outbreak began in Wuhan (China) in December 2019, but later it spread to all the parts of the world. It has adversely affected the chemicals and materials industry as the industry is suffering from supply chain disruptions, lockdowns, travel bans, and business shutdowns called in various countries. The US has the highest number of confirmed cases of the COVID-19 morbidity among all North American countries. This is likely to impact the chemicals and materials industry in the region due to the disruption of supply and distribution chain. In addition, the lockdown scenarios are also impacting the overall manufacturing processes, research, and development activities pertaining to different industries.
The polypropylene strap segment accounted for a larger share of the North America plastic strap market, by type, in 2019. The paper segment accounted for a larger share of the North America plastic strap market, by end use, in 2019.
A few of the major primary and secondary sources referred to while preparing this report on the North America plastic strap market include Teufelberger Stralsund GmbH, Cyklop International, FROMM Group, Polychem Corporation, PAC Strapping Products Inc., Dubose Strapping Inc. and Crown Holdings Inc.
The North America Plastic Strap Market is valued at US$ 1,879.95 Million in 2019, it is projected to reach US$ 573.78 Million by 2027.
As per our report North America Plastic Strap Market, the market size is valued at US$ 1,879.95 Million in 2019, projecting it to reach US$ 573.78 Million by 2027. This translates to a CAGR of approximately 16.2 % during the forecast period.
The North America Plastic Strap Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Plastic Strap Market report:
The North America Plastic Strap Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Plastic Strap Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Plastic Strap Market value chain can benefit from the information contained in a comprehensive market report.
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